Commonwealth Numbered Regulations - Explanatory Statements

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PETROLEUM (SUBMERGED LANDS) FEES REGULATIONS 1994 NO. 237

STATUTORY RULES 1994 No. 237

Issued by the authority of the Minister for Resources.

Petroleum (Submerged Lands) Fees Act 1994

Petroleum (Submerged Lands) Fees Regulations

The Petroleum (Submerged Lands) Fees Act 199 (the Fees Act) provides for annual fees to be paid by holders of exploration permits, retention leases, production licences and pipeline licences granted pursuant to the Petroleum (Submerged Lands) Act 1967.

Section 7 of the Fees Act provides that the Governor-General may make regulations for the purposes of the Act.

Section 2 of the Fees Act provides for the Act to commence on 1 July 1994.

Details of the Petroleum (Submerged Lands) Fees Regulations are attached.

These regulations will commence on 1 July 1994 when the Fees Act is to come into effect provided gazettal is on or before that date.

ATTACHMENT

PART 1 - PRELIMINARY

Regulation 1: Citation

This gives the short title of the Regulations.

Regulation 2: Commencement

These Regulations come into force on 1 July 1994.

Regulation 3: Interpretation

Regulation 3 defines the Petroleum (Submerged Lands) Fees Act 1994 as the "Act".

Regulation 4: Exploration permit fees

Regulation 4 provides for an annual fee on a exploration permit, except for a permit granted under section 22B of the Petroleum (Submerged Lands) Act 1967, of the greater of $1000 or $50 per block relating to the permit at the beginning of the year of the term of the permit.

Regulation 5: Retention lease fees

Regulation 5 provides for an annual fee on a retention lease of $6000 per block relating to the lease at the beginning of the year of the term of the lease.

Regulation 6: Production licence fees

Proposed regulation 6 provides for an annual fee on a production licence of $18000 per block relating to the licence at the beginning of the year of the term of the licence.

Regulation 7: Pipeline licence fees

Regulation 7 provides for an annual fee on a pipeline licence of $80 per kilometre or part thereof relating to the licence at the beginning of the year of the term of the licence.